Mn Services Vermogensbeheer B.V. lifted its position in Baker Hughes A GE Co (NYSE:BHGE) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,542 shares of the company’s stock after acquiring an additional 5,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Baker Hughes A GE were worth $7,888,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in BHGE. BlackRock Inc. raised its holdings in Baker Hughes A GE by 31.9% in the fourth quarter. BlackRock Inc. now owns 35,009,945 shares of the company’s stock worth $752,716,000 after purchasing an additional 8,467,168 shares in the last quarter. Norges Bank bought a new position in Baker Hughes A GE in the fourth quarter worth about $110,806,000. Pzena Investment Management LLC raised its holdings in Baker Hughes A GE by 1,163.7% in the first quarter. Pzena Investment Management LLC now owns 5,540,588 shares of the company’s stock worth $153,585,000 after purchasing an additional 5,102,148 shares in the last quarter. Millennium Management LLC raised its holdings in Baker Hughes A GE by 72.5% in the fourth quarter. Millennium Management LLC now owns 10,141,107 shares of the company’s stock worth $218,034,000 after purchasing an additional 4,260,917 shares in the last quarter. Finally, FMR LLC raised its holdings in Baker Hughes A GE by 11.7% in the fourth quarter. FMR LLC now owns 36,476,714 shares of the company’s stock worth $784,250,000 after purchasing an additional 3,826,019 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.
Shares of BHGE stock opened at $22.28 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.65 and a quick ratio of 1.11. The company has a market cap of $22.55 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.80. Baker Hughes A GE Co has a 1-year low of $20.09 and a 1-year high of $37.41.
Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Tuesday, April 30th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $5.63 billion. Baker Hughes A GE had a return on equity of 0.88% and a net margin of 0.68%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. On average, sell-side analysts forecast that Baker Hughes A GE Co will post 0.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, May 20th. Baker Hughes A GE’s dividend payout ratio is currently 109.09%.
A number of equities analysts have commented on the stock. Wells Fargo & Co reduced their target price on shares of Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Zacks Investment Research lowered Baker Hughes A GE from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Cowen restated an “outperform” rating and set a $32.00 price target (down previously from $34.00) on shares of Baker Hughes A GE in a research note on Monday, February 4th. Credit Suisse Group restated an “outperform” rating and set a $23.57 price target (down previously from $28.00) on shares of Baker Hughes A GE in a research note on Friday, February 1st. Finally, Goldman Sachs Group started coverage on Baker Hughes A GE in a research note on Sunday, March 10th. They set a “conviction-buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.56.
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About Baker Hughes A GE
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.
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